Economy
Exploring the Best Forex Brokers in Sri Lanka: TU Experts’ Choice for 2023

To trade in financial markets successfully, you need to pick the right broker. Your money, profits, and opportunities rely on this choice. Traders Union (TU) experts have already done the hard work for you. They’ve reviewed and compared the top five Forex brokers in Sri Lanka for 2023, helping you make an informed decision.
Top Forex brokers in Sri Lanka
Here are the best Forex brokers in Sri Lanka for 2023, as reviewed by TU’s analysts:
- Tickmill
- Suitable for both beginners and professionals.
- Provides a range of account options, such as Classic, Pro, and VIP.
- Classic accounts have no fees and a transparent spread.
- Pro and VIP accounts are for advanced traders with low spreads.
- The minimum deposit is $100 for Classic and Pro accounts.
2. FxPro
- Offers narrow spreads and zero commissions for stock trading.
- Provides advanced tools and charting options for analysis.
- Supports various trading platforms and devices, including mobile.
- Incorporated TradingView charts into the FxPro mobile app.
3. Pocket Option
- Classic binary options trading conditions.
- Trade in currency pairs, stocks, commodities, and cryptocurrencies.
- The minimum initial deposit is $5, with subsequent balance requirements.
- The minimum bet size is $1.
4. Forex4you
- No minimum deposit requirement.
- Offers leverage up to 1:1000.
- Provides a variety of account types with different spreads.
- Access to over 150 trading instruments and copy trading through Share4you.
- Supports various deposit and withdrawal methods.
5. HFM
- Competitive trading conditions with a low minimum deposit.
- Leverage up to 1:500.
- Variable spreads with a minimum of 1 pip (zero for Zero accounts).
- These brokers offer different features, so consider your trading preferences and goals when choosing the right one for you.
Selecting the best Forex broker in Sri Lanka
Selecting a reliable Forex broker in Sri Lanka is crucial for traders. Here are key considerations advised by analysts at Traders Union:
- Regulation and licensing: ensure your chosen broker is regulated by a reputable financial authority to guarantee adherence to industry standards and provide a secure trading environment.
- Trading platform: opt for a broker offering a user-friendly and technologically advanced trading platform, as it plays a vital role in executing trades and managing your trading activity effectively.
- Security measures: prioritize brokers that prioritize the safety of your funds and personal information, including encryption technology and segregated client funds.
- Client service: choose a broker with responsive and efficient client support across multiple channels to address any concerns or issues that may arise during your trading journey.
Sri Lanka’s legitimacy of Forex trading
TU’s experts confirm that Forex trading in Sri Lanka is completely legal and carefully regulated by the Securities and Exchange Commission (SEC). The role of the SEC is to oversee and supervise the Forex market within the country. Their primary goal is to ensure that both Forex brokers and traders adhere to the appropriate regulations and guidelines. This regulatory framework serves to safeguard the interests of investors and uphold the integrity of the Forex industry in Sri Lanka.
Thanks to these regulations, the Forex market in Sri Lanka is known for its transparency, security, and adherence to fair trading practices. However, it’s important to be aware of certain limitations when it comes to Forex trading in Sri Lanka.
Firstly, only Forex brokers that are regulated by the SEC are permitted to offer their services in the country. Additionally, Sri Lankan residents are not allowed to engage in foreign currency trading on their own. Instead, Forex transactions are facilitated exclusively through approved banks and recognized financial organizations. These measures are in place to maintain the integrity and security of the Forex market in Sri Lanka while protecting the interests of its residents.
Conclusion
Choosing the right Forex broker in Sri Lanka is crucial for successful trading, and Traders Union has made this process easier for you by reviewing and comparing the top five brokers for 2023. Each broker has its unique features, so consider your preferences and goals when making your choice.
Economy
Buying Pressure Buoys NGX All-Share Index by 0.10%

By Dipo Olowookere
The Nigerian Exchange (NGX) Limited witnessed continued buying interest from offshore and domestic investors on Thursday, strengthening the market further by 0.10 per cent at the close of transactions.
Data revealed that the All-Share Index (ASI) was up by 105.26 points yesterday to 105,430.15 points from the preceding day’s 105,324.89 points, and the market capitalisation expanded by N65 billion to close at N65.287 trillion compared with the previous session’s N65.222 trillion.
Business Post observed that the market participants showed interest in equities across the key sectors of the exchange because of their prospects to yield better value later.
The insurance counter gained 0.63 per cent, the consumer goods index appreciated by 0.18 per cent, the energy index improved by 0.13 per cent, the banking space jumped by 0.09 per cent, and the industrial goods industry grew by 0.04 per cent.
Eterna chalked up 9.88 per cent to trade at N33.35, Cadbury Nigeria also gained 9.88 per cent to finish at N26.70, Fidson increased its value by 9.77 per cent to N19.10, UPDC rose by 9.77 per cent to N2.36, and Deap Capital soared by 9.38 per cent to N1.05.
On the flip side, Tripple G lost 9.72 per cent to end at N2.23, Golden Breweries receded by 8.91 per cent to N7.87, Veritas Kapital slumped by 7.81 per cent to N1.18, Caverton dipped by 5.53 per cent to N2.05, and Regency Alliance slipped by 4.05 per cent to 71 Kobo.
When the bourse closed for the session, there were 33 price advancers and 23 price decliners, indicating a positive market breadth index and strong investor sentiment.
Yesterday, investors bought and sold 537.2 million shares valued at N23.0 billion in 15,450 deals versus the 1.1 billion shares worth N28.8 billion traded in 15,080 deals on Wednesday, representing a rise in the number of deals by 2.45 per cent, and a decline in the trading volume and value by 49.19 per cent and 20.14 per cent, respectively.
Access Holdings led the activity log with 61.6 million stocks valued at N1.7 billion, Sterling Holdings exchanged 50.2 million equities for N296.2 million, Zenith Bank traded 40.5 million shares worth N2.0 billion, FBN Holdings sold 38.8 million equities valued at N1.3 billion, and UPDC transacted 23.6 million stocks worth N54.4 million.
Economy
Crude Oil Market Dips as Trump Reiterates US Plans to Boost Production

By Adedapo Adesanya
The crude oil market continued its downward movement on Thursday after the US President, Mr Donald Trump, repeated a pledge to raise his country’s oil production.
Consequently, the price of Brent crude futures fell by 32 cents or 0.4 per cent to $74.29 a barrel and the US West Texas Intermediate (WTI) crude declined by 42 cents or 0.6 per cent to $70.61 per barrel.
President Trump repeated a pledge to boost US production in a bid to lower oil prices and ease consumer inflation. The US is already the biggest crude producer in the world.
This move unnerved traders a day after the country reported a much bigger-than-anticipated jump in crude stockpiles.
Market analysts have questioned whether US oil producers will be willing to pump more barrels in the current market especially with Trump’s tariffs on Canadian and Mexican imports looming.
US government data from the Energy Information Administration (EIA) showed domestic crude stockpiles rose by 8.7 million barrels last week on Wednesday.
Prices also drew support from new US sanctions against individuals and entities for facilitating shipments of Iranian oil to China.
This is as President Trump reimposed a maximum pressure campaign against Iran, but also said he was open to a deal with the oil producing country.
The US said the tankers onboarded Iranian crude from storage in China as part of a scheme involving Iran’s military, which stands to profit from the sale of the oil.
The sanctions block access of the individuals and entities to any of their assets in the US and prohibit US foreign assistance.
China is also not sitting on its oars, it responded to the US blanket tariff of 10 per cent on all Chinese imports with several measured retaliatory tariffs, including a 15 per cent levy on LNG and 10 per cent on crude oil imports from the US.
US crude exports could slide to 3.6 million barrels per day this year, especially if the Trump Administration enacts the tariffs on Mexico and Canada – currently on pause until March 4.
Amid these developments, Saudi Arabia’s state oil company, Aramco has sharply raised prices for buyers in Asia.
Economy
Genesis Energy’s Cutting-edge Solutions Thrill Katsina Governor

By Modupe Gbadeyanka
The Governor of Katsina State, Mr Dikko Radda, has expressed delight at the technological advancements and operational excellence of a leading provider of integrated energy solutions, Genesis Energy.
Speaking at a tour of the company’s facilities in Lagos and Port Harcourt recently, Mr Radda said, “I am glad with what I saw, and they have really exhibited their capacity in terms of power generation in Nigeria.
“What I have seen here is the turbine system of power generation which they have built for over 10 years, and it’s still running at full capacity.
“Additionally, we have seen how Genesis Energy distributes electricity and the processes of distribution and the efficiency of the service. This visit has really indicated to us that they’re up to the task and they’re capable. I believe that they can handle any project that has to do with power generation in our country,” he stated.
The Governor first visited the organisation’s 84MW off-grid power plant at the Port Harcourt Refinery, the largest licensed facility of its kind in Nigeria.
The visit underscored Genesis Energy’s critical role in providing a stable and efficient power supply to key industrial facilities.
He later proceeded to Genesis Energy’s Lagos power plant in Banana Island, Ikoyi, which features 2×7.5MVA and 15MVA Injection Substations operating at 33/11KV. This facility ensures uninterrupted electricity to commercial and residential areas, further cementing GENESIS Energy’s position as a trusted energy solutions provider.
The visit underscores the growing collaboration between state governments and private sector players in addressing Nigeria’s energy needs, while also reinforcing Genesis Energy’s role in delivering sustainable power solutions nationwide.
“At Genesis Energy, we are driven by the belief that strategic partnerships are essential for unlocking Nigeria’s vast energy potential. As we continue to expand our footprint and innovate in the energy sector, we are proud to support industries, stimulate economic growth, and pave the way for a more sustainable energy landscape.
“We thank Governor Radda for his insightful visit and look forward to future collaborations that will help drive transformative change across Nigeria’s energy sector,” the Executive Vice President of Operations and Maintenance at Genesis Energy Group, Mr Simon Shaibu, remarked.
Over the past decade, Genesis Energy has continued to expand its footprint in the power sector, deploying cutting-edge energy solutions to drive industrialization, economic growth, and enhanced energy security across Nigeria. The company remains committed to supporting national energy objectives through strategic partnerships and long-term investments in sustainable power infrastructure.
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